"Am I behind on retirement?" is one of the most-searched money questions there is — and one of the hardest to answer, because most of the numbers floating around online are either scary headlines or vague advice. Here are two real, grounded ways to check where you stand.
Way 1: compare your account balance to your age group
This is the typical balance Americans hold in retirement accounts (401(k), IRA and similar), based on Federal Reserve data:
| Age | Median | Average |
|---|---|---|
| Under 35 | $18,880 | $49,130 |
| 35–44 | $45,000 | $141,520 |
| 45–54 | $115,000 | $313,220 |
| 55–64 | $185,000 | $537,560 |
| 65–74 | $200,000 | $609,230 |
| 75+ | $130,000 | $462,410 |
Use the median, not the average, to judge yourself — the average is pulled way up by a small group of very large accounts. The median is what a typical person your age actually has.
Way 2: the salary-multiple rule of thumb
A simpler benchmark that doesn't depend on cost of living: aim to have saved a multiple of your own salary.
- 1× your salary by 30
- 3× your salary by 40
- 6× your salary by 50
- 8× your salary by 60
This is a rule of thumb, not a law of physics — your real target depends on your planned retirement age, lifestyle, pension, and Social Security. But it's a fast gut-check that scales with your own income instead of a national average that may not look like your life.
If you're behind, the fastest levers
- Capture your full employer 401(k) match first. It's an instant, guaranteed return — free money you're otherwise leaving on the table.
- Raise your contribution by 1% a year. It's small enough to barely notice in your paycheck and compounds significantly over a career.
- Start now, even small. A decade of compounding beats a bigger balance started late — time in the market matters more than timing it.
- Use tax-advantaged accounts (401(k), IRA) before a regular brokerage account for retirement-specific savings.
Frequently asked questions
How much should I have saved by my age?
A common rule of thumb: 1× your salary by 30, 3× by 40, 6× by 50, 8× by 60. On an account-balance basis, Federal Reserve data puts the median around $18,880 under 35, $45,000 for 35–44, and $115,000 for 45–54 — but your ideal number depends on your lifestyle and planned retirement age.
Should I compare myself to the median or the average?
The median. The average is skewed much higher by a relatively small number of very large accounts, so it isn't representative of a typical saver your age.
I'm way behind — is it too late?
No. Capturing your full employer match, raising your contribution rate gradually, and starting immediately can close a surprisingly large gap, especially with 10+ years until retirement.
